Should We Keep an Eye on the Upside Potential of the Rising Euro/Yen Pair?

Should We Keep an Eye on the Upside Potential of the Rising Euro/Yen Pair?

09.05.2025

In the U.S. currency market the previous day, the U.S. dollar rose against the Swiss franc. The USD/CHF pair rose from 0.8222 to 0.8330. The price extended from the -2σ to the +3σ levels of the hourly Bollinger Bands.On the 4-hour chart, the pair has broken through last week’s high, and on the daily chart, it is currently attempting to break above the 20-day moving average (20MA), which had previously acted as resistance. We will be watching closely to see if the U.S. dollar continues to strengthen and what direction the market takes.

Among European currencies, the euro rose against the yen. The euro/yen pair rose from 162.406 to 163.895. An uptrend has emerged from the 20-period moving average on the hourly chart. On the 4-hour chart, the RSI rebounded from 37 to 61. Meanwhile, on the daily chart, the pair has continued to trade at roughly the same level for about a month.It will be important to monitor price movements to see if the euro continues to rise against the yen during today’s European trading session.

Today’s schedule includes the Japan Household Expenditure Survey and the Japan Monthly Labor Survey at 8:30; the Japan Economic Sentiment Index at 14:00; remarks by Bank of England Governor Bailey at 17:40; remarks by Federal Reserve Governor Barr at 18:55; and at 20:15, remarks by the UKPill, MPC Member, at 20:15; the Canadian Employment Report and remarks by U.S. Fed Governor Williams, President of the New York Fed, at 21:30; remarks by U.S. Fed Governor Goolsbee, President of the Chicago Fed, at 23:00; and remarks by U.S. Fed Governor Waller at 24:30.We will carefully monitor the upside potential of the euro/yen pair, which has been rising.